Standard & Poor's gives EFSF an 'AAA' rating

WilliamSpain

CHICAGO (MarketWatch) -- Standard & Poor's Ratings Services on Friday affirmed the long-term issuer credit rating on the European Financial Stability Facility (EFSF) at "AAA" while also assigning it a short-term rating of "A-1+." The outlook is stable, S&P said. Guarantees from euro-zone member states "continue to be a main factor underpinning the ratings on the EFSF," and S&P said there it is almost certain that its "AAA" rated member governments would provide timely and sufficient extraordinary support to EFSF should it be required. "We consider the EFSF to be the cornerstone of the EU's strategy to restore stability to the euro zone sovereign debt market and to preserve confidence in the European financial system."

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